Nothing in these materials is an offer to sell any of the components or devices referenced herein. Please disable your ad-blocker and refresh. After all, lockups will expire creating downward pressure on the stock as early investors sell. Let me share some more detail from the quarter. This is going to drive a lot of the challenges in securing the enterprise environment, and in turn, the data that all of us store with some of these enterprises. This is the new normal forcing the revolution of how we work, where we work from and fundamentally how we secure the future of work. Can you characterize the competition? In closing, Q2 was an excellent quarter with strong execution, and we're expecting that momentum to continue into the second half of the year. The first is on September 28. Thank you. In Q3, we expect revenue of $49 million to $50 million, reflecting growth of 102% at the midpoint. CEO Tomer Weingarten told Insider that the company is now eyeing acquisitions to grow its products. So just trying to think about the trajectory there and maybe the most fundamental thing that changed in the quarter to drive that improvement. Our net retention rate was 129%, a new record for our company, fantastic execution from our sales and go-to market teams. Once the data is ingested, Weingarten says, SentinelOne has mechanisms in its Singularity platform that let customers build rules around the collected data and invoke responses to those commands across any product. Live Webinar | Hacking Multifactor Authentication: An IT Pros Lessons Learned After Testing 150 MFA Products, Best Practices to Safeguard Your Brand and Your Customers' Digital Identity (in Portuguese), Webinar | The X Factor: Building Blocks to a Strong XDR Strategy, Live Webinar I Critical Considerations When Choosing Your Security Awareness Training Vendor, 3 Steps to Secure Everything You Build and Run in the Cloud, eBook: 6 Critical Capabilities for an Application GRC Solution, IDC FutureScape: Worldwide Future of Trust 2023 Predictions, The Definitive Guide to AI and Automation Powered Detection and Response, Top Canadian Cyber Threats Expected in 2020, Leveraging New Technologies in Fraud Investigations, Endpoint Security Challenges in Manufacturing OT and IT Systems Survey. Now we'll discuss our costs and margins and then provide our guidance outlook. Its a market that hadnt been disrupted in years, with very large incumbents like Symantec and McAfee which had not innovated for a long time. Prior to that he held several application security and consulting roles at various enterprises, and was . And there's a mix across all of them, but there's certainly an opportunity us to continue to see the customers and core control we expand up to the more complete offering, as well as add more modules, et cetera, et cetera. Got it. Where is the battle coming down to more of the next gen providers? For me, writing code and building software products is the way I express myself. Prior to Medallia, Mr. Smith served in various positions at Oracle Corporation, a products and services cloud technology company, including most recently as Senior Director of Engineering, from October 2009 to January 2016. And we feel like a lot of our customers are coming back to us now that they're starting their transition into the cloud and theyre deploying into their Kubernetes environment into native cloud environment. The proof of concept demo I went through before selecting this product was thorough and set us up for success when we did decide to continue our relationship with CrowdStrike., They also love the SentinelOne Singularity Platform. What are you sort of seeing in terms of new customers and existing customers in terms of the peers that they're sort of opting for? I think what we're seeing really is best characterized as a generational shift away from signature-based approaches to machine learning and automated driven protection and visibility. So we're seeing massive traction with that. And we're becoming this trusted partner for these enterprises that actually continue and grow up and down the stack and in different surfaces. I see that landed costs per new logo is certainly much higher than it was last quarter. Tomer, maybe for you. Feedback has been positive and we've issued over 2,000 accreditations to-date. Welcome everyone and thanks for joining our first earnings call as a public company. Hi, good afternoon. The growing threat landscape is just one of them. I think that goes into why you're seeing 129% at RR. Both companies have one figure thats identical their dollar-based net retention rate, which reflects growth in revenues from existing companies. Ultimately, when you examine the numbers behind SentinelOnes operating structure, you can see that the company is less efficient and will continue to be so in the future, to the detriment of shareholders. Tomer just sort of talked about this just briefly in the last question, but I was wondering if you could just double click a bit on the mix of customers across the different singularity peers specifically core control and complete. We're working on getting our largest customers over first, which is why you see the depth that we're expecting in the second half, but going forward, we think we should have a baseline of around where we're at right now, barring any other efficiencies we see on the product as we continue to advance it. Congrats, guys on the strong debut quarter. There are lots of things to understand, even the political ecosystems within the environments of customers who will eventually procure your product. Biography of Tomer Weingarten. That was a great question from Roger. Mr. Smith holds a B.S. According to a Bloomberg report from early March, the company is hoping for an even higher market value, of $10 billion. Eran Ashkenazi has served as our Senior Vice President of Global Support and Services since March 2019. If youre able to react and deflect at scale in real-time, then you have a unique advantage you have a system that protects from attacks in a manner that no one else does. "We've identified the critical capabilities that our customers need, and they're very adjacent to workload protection," Weingarten says. Two years ago, the American company CrowdStrike held its initial public offering, which valued it at almost $7 billion. That's great. Its a fantastic company, with astounding marketing and performance capabilities.. improve their organizations' risk management capabilities. Operator, can you please open up the lines for questions? They tend to be similar, standardized and open source. Attivo joins the more than 20 modules offered by SentinelOne and will further drive the migration away from antiquated and expensive security analytics tools and toward XDR, which he says provides better security at a lower cost. And it also want to know, enables these partners to basically deliver their services in a much more effective manner. Attacks and threats are only becoming more sophisticated and more common and legacy solutions and human defenses just can't keep up. So we really think about growing the business from a new model perspective, as well as learning to extend, someone asked a question on that the answer is yes, we're doing both. Hot Topics 27 Febbraio 2023 | Nuove nomine di executive in SentinelOne; 27 Febbraio 2023 | Artemis nomina Alex Stanic nuovo Head of global equities; 27 Febbraio 2023 | Candriam: nuovo accordo con il Gruppo Sella; 27 Febbraio 2023 | Garbe industrial Real Estate Italy nomina Sara Labrini nel ruolo di Senior Technical Development Manager; 27 Febbraio 2023 | Massimo Braganti nominato Direttore . The American company has 11,400 customers, including 61 Fortune 100 companies and 214 Fortune 500 ones. Cohen and Weingarten were actually childhood friends and went to the same college. Yes. And it's driving more adoption and driving more seat counts in all-in-all it drives the stability for customers who shift away from their incumbent vendor with ease. Thank you, Tomer, and I'd also like to welcome everyone. Additionally, we're also starting to see benefits from our renegotiated cloud hosting agreement, which we signed earlier this year to align with our expected growth. Prior to joining us, Ms. Ghatak led HR globally as Vice President, People at Nevro Corp., a global medical technology company, from April 2017 to April 2020. Combined with ongoing benefits from our product innovation, improved brand awareness and continuing to scale our go-to-market, this collectively supports our triple-digit growth outlook. Another player in this market is the Israeli firm SentinelOne. What type of capacity, you see going forward in terms of your ads for the next couple of quarters? But we thought that an IPO was critical. And as a result, we're delivering real-time industry leading threat detection and response from endpoint to IoT to cloud. But no one is showing them how - In Q2, we added over a dozen additional IR partners and are bringing more online in Q3 and beyond. This is Nick here. We are XDR. Prior to joining us, Mr. Parrinello served as Senior Vice President of Worldwide Sales at Cohesity Inc. from February 2017 to November 2019. This call is being broadcast live via webcast. These tiers enable us to bring our technology to a diverse set of biotech types and organizations from medium sized businesses all the way to the world's largest Fortune 500 enterprises. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. SentinelOne CEO Tomer Weingarten closed on a $11.5-million home in Los Altos, just below the asking price, according to public records. Terrific. Furthermore, the more we can build applications on top of the data that we collect using the platform, the more value we can bring to our customer base and the more extensive our offering can be across many different facets. Are you still seeing a lot of replacement of legacy out there, which would imply that there's still a long way to go in this markets? And what that's really driven by enabling their business and not competing is incredible loyalty and brand loyalty with SentinelOne, and that's something we've been working really hard on for the last several years. I guess relative to the question, partner retention results. Note that the SMB (small-and-medium size business) category has shown even more growth. And we will add more modules to our service, he said. Clients can bring in any type of log source and cross-correlate disparate data points from siloed products made by different vendors into a single cohesive data lake to drive more automation and orchestration, he says. What I'd also add to that is uniquely with SentinelOne, we've made a strategic decision to enable and not compete with the various multi-dimensional channel partners out there, whether that's MDRs, MSSPs, or incident response partners, obviously as well as your traditional resell partners. Don't think we're cheaper by any degree. Tomer Weingarten is our co-founder and has served as our Chief Executive Officer and a member of our board of directors since our inception in January 2013, as our President since November 2018, and as our Chairman of the Board of Directors since March 2021. SentinelOne, Inc. (NYSE:NYSE:S) 24th Annual Needham Growth Conference January 11, 2022 1:15 PM ETCompany ParticipantsDoug Clark - Head, Investor RelationsTomer Weingarten - Chief Executive. In the past year, we've more than tripled the number of customers with ARR over 1 million. statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially. Obviously there are areas that are, economically more viable in terms of full strategy. We don't force them to use our service. Before I turn into Nick and Dave, I want to say I'm excited about what we've achieved as the company. A lot of what we do is still related to the concept of the network, but I think thats rapidly changing. So sequential ARR grew $37 million bucks, if I'm not mistaken, just a kind of housekeeping items, I presumed Scalyr likewise in first quarter, right. So all in all, we're definitely seeing an opportunity that's almost completely Greenfield there. LinkedIn, follow us on Yes. In other words, write the rules once and let it trigger automatic alerts and instant responses enterprise wide. Good evening. And maybe just a quick follow-up for Dave. And what is the cost look like? Yes. He would team up with Almog Cohen, who was a security expert at Check Point Software Technologies. Prior to Chegg, Mr. Bernhardt served in various positions at Palantir Technologies Inc., a data analytics software company, including most recently as its Vice President of Finance and an advisor, from May 2009 to August 2013. I mean, they deal with that, we deal with that. Nick, Tomer, thank you. It's incredibly holistic again in nature. Tomer Weingarten, SentinelOne co-founder and CEO, joins 'TechCheck' to discuss the current status of Microsoft's vulnerability to cyber attack, what measures need to be taken to deter a future. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. So to us, I mean, those positive performance it's always something that you deal with. Whats more, those ambitious growth goals are tough to beat every quarter. The key point is that as we progress to our long-term targets, we intend to invest in growth while also improving our margins and profitability. The solution for the IoT and unmanaged device challenges are ranger module. Yet things started to change as the cybersecurity threats became more frequent and dangerous. That gives me tremendous confidence in the long-term growth potential in front of SentinelOne. While building the AI system, Weingarten learned some important lessons. 2021 Qualcomm Technologies, Inc. and/or its affiliated companies. Mr. Conder brings over 25 years of experience scaling high-growth, public companies in the technology sector. That's something we'll advance, once we get it completely tied into the SentinelOne back end. So all in all, I mean, it just really kind of falls in line with both of our Zero Trust strategy and our open XDR approach. That's great. He adds that SentinelOne stacks up favorably against any other data analytics vendor when it comes to both cost and performance. And that drives adoption as well. It's about creating a more secure endpoint in the most holistic way possible. When SentinelOne CEO and co-founder Tomer Weingarten launched the company in 2013, he had a revolutionary vision to transform the way organizations protect their data and devices by building software that doesn't just observe but prevents and deflects in real-time. Mr. Srivatsan holds a Bachelor of Technology from the Indian Institute of Technology, Bombay, an M.S. It has to be flexible and automated and that means not just across the endpoint operating systems, but also IoT devices, servers, cloud workloads, and the data itself. Obviously, we're very enthusiastic about our top line drivers. Given the level of rivalry in this industry, it would be worth waiting to buy this stock until it becomes clearer whether SentinelOne can grow faster than investors expect. Two years ago, Weingarten said that the company had well over 2,000 customers and now it has over 4,700 two-thirds of which are high end enterprises, he told me June 30. Not If We Focus on Cyber Resilience, Protecting the Hidden Layer in Neural Networks, Crime Blotter: Hackers Fail to Honor Promises to Delete Data, How the Economic Downturn Has Affected Security Funding, M&A. This year, more than ever before because of the Covid-19 pandemic, huge droves of workers and consumers have been turning to the internet to communicate, get things done, and entertain themselves. Security teams simply can't analyze and respond to billions of events every day. Some people paint, some people write songs, some people are talented in different ways. It's two quick questions for you. CrowdStrike offers more dynamic and sophisticated solutions that are suited to a new world in which end-user devices are more diverse and cyberattacks are becoming more sophisticated. I mean, we feel it's going to hover around these rates for kind of the foreseeable future, and we like their contribution. It's now 10. The CEO and cofounder of SentinelOne is Tomer Weingarten. Prior to that he held several . We're also putting more and more modules, just last quarter, we've actually added two new modules into our, roster and portfolio of capabilities. And that's kind of what we see in this space today. Even beyond security. "Given the technological superiority we have on our platform today, some of the biggest cloud consumers out there have been adopting our workload protection platform," Weingarten tells Information Security Media Group. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements.

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